Ukraine asks Japan to join upcoming govt program 'Industrial Ramstein'
Ukraine has asked Japan to join the implementation of the upcoming government program "Industrial Ramstein," provide Ukrainian enterprises with equipment to replace equipment destroyed during a full-scale war, and also create joint ventures in Ukraine, the press service of the Ministry of Economy reported.
"Strategically important sectors for building a new country and attracting private investment are: defense, agricultural production and processing, renewable energy, gas production and storage, green metallurgy, construction, environmental transport, healthcare and pharmaceuticals. We see great prospects in attracting Japanese companies to the early recovery of Ukraine," the press service quoted the words of First Deputy Prime Minister – Minister of Economy Yulia Svyrydenko at a meeting with Japanese Foreign Minister Tsuji Kiyoto and representatives of Japanese companies.
She called on Japan to increase sanctions pressure on the Russian Federation, including in the financial, banking and defense spheres. Ukraine is counting on Japan's continued support in the use of frozen Russian assets.
According to the minister, the Ukrainian government is developing war risk insurance instruments to ensure the security of private investments.
Svyrydenko thanked the representatives of Japan for providing financial support in April 2023 for the creation of a special MIGA Sure Trust Fund, which allowed the Agency to provide the first guarantees of insurance against war risks. Ukraine also highly appreciates involvement in financing projects with the participation of Japanese companies through the Japanese bank JBIC (Japan Bank of International Cooperation), development projects with the participation of the JIKA agency and the NEXI export credit agency, which provides technical and advisory support to the Ukrainian Export Credit Agency, the Deputy Prime Minister emphasized.
The parties also discussed issues of humanitarian demining and restoration of the economic potential of Ukraine.
According to Svyrydenko, the government, together with industrial associations, analyzed the destroyed and damaged equipment at Ukrainian enterprises. About 500 types of equipment originating from 21 countries were damaged and need to be completely replaced. Of these, 86 types of equipment are Japanese-made.
"We intend to start the 'Industrial Ramstein' and ask Japan to join and provide equipment to replace the damaged and destroyed one to Ukrainian enterprises," Svyrydenko said and expressed hope for Japanese companies to open factories and processing plants in Ukraine and create joint ventures with Ukrainian businesses.
Representatives of the Japanese delegation promised to provide Ukraine with additional equipment to overcome the consequences of shelling of energy infrastructure: 10 transformers and five gas turbines for power plants.
Japanese businessmen expressed interest in starting the implementation of joint investment projects with Ukrainian entrepreneurs. Of particular interest to potential investors were the sectors of agriculture, energy, green metallurgy, cybersecurity and construction.
During the meeting, the Japanese delegation announced the possibility of opening an office of the Japanese Foreign Trade Organization JETRO in Kyiv.